ELECTROTHERM (INDIA) LTD.

Electrotherm (India) Limited has disclosed a default on payment of interest and principal for term and working capital loans amounting to ₹59.81 Crore as of September 30, 2026. The default is with Invent Assets Securitisation & Reconstruction Private Limited, the assignee of debts from Allahabad Bank (now Indian Bank) and Punjab National Bank. The total outstanding principal on these obligations was ₹180.00 Crore with an 11% interest rate over an 11-year tenure. The company's total outstanding borrowings from banks and financial institutions stood at ₹983.98 Crore, with total financial indebtedness at ₹997.42 Crore as of the same date. Electrotherm notes that these figures are provisional and subject to confirmation, and that they have entered into a settlement with the ARC for outstanding loans.

Electrotherm (India) Ltd has announced that its Board of Directors will convene on November 4, 2026. The primary agenda item is to consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter and half-year ended September 30, 2026. The company also confirmed the continuation of the trading window closure for designated persons and their relatives, which began on October 1, 2026, and will remain closed for 48 hours after the submission of the financial results.

Electrotherm (India) Ltd has announced the closure of its trading window for designated persons and their immediate relatives. This closure is in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal policies. The trading window will be shut from October 1st, 2026, until 48 hours after the submission of the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30th, 2026. The company will separately inform the date of the board meeting where these financial results will be considered and approved.

Electrotherm (India) Ltd has disclosed further actions by the Directorate of Enforcement (ED) under the Prevention of Money Laundering Act, 2002. The ED has issued a Provisional Attachment Order dated September 25, 2026, attaching movable properties including ₹25.08 Crore in two bank accounts of the company. Additionally, equity shares held by promoters Mr. Shailesh Bhandari and Mr. Mukesh Bhandari have been attached. This follows earlier freezing of bank accounts totaling ₹34.29 Crore for the company and ₹83.18 Lacs for Mr. Shailesh Bhandari, and the release of a seized car upon submission of a Fixed Deposit Receipt of ₹3.20 Crore. The company and Mr. Shailesh Bhandari are contesting these actions in the Gujarat High Court and the PMLA Appellate Tribunal. The company is seeking legal advice for further action.

Electrotherm (India) Ltd has filed a disclosure regarding a share transfer within its promoter group. Suraj Shailesh Bhandari acquired 80,000 equity shares (0.63%) from Bhandari Rakesh through an off-market inter-se transfer by way of gift. This transaction does not alter the overall promoter and promoter group shareholding percentage, which remains at 29.87%. The total equity share capital of the company is Rs. 12,74,28,140, divided into 1,27,42,814 equity shares of Rs. 10 each.

Electrotherm (India) Ltd has announced its 40th Annual General Meeting (AGM) will be held on Monday, September 28, 2026, at 10:00 a.m. via Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting will cover ordinary business such as adopting financial statements and re-appointing a director, as well as special business including the appointment of Mr. Raj Kumar Bansal as an Independent Director and Mr. Rajesh Bhalchandra Patel as a Non-Executive Non-Independent Director. The remote e-voting period will be from September 25 to September 27, 2026, with a cut-off date of September 21, 2026, for determining voting eligibility.

Electrotherm (India) Ltd has released its 40th Annual Report for the financial year ended March 31, 2026. The report highlights a net loss of ₹16.18 Crores, with total income at ₹3696.54 Crores and total expenditure at ₹3716.35 Crores. A significant audit qualification was noted regarding the non-provision of interest on Non-Performing Assets (NPA) amounting to ₹149.61 Crore for the year, with cumulative unprovided interest reaching ₹1066.12 Crore. The company's net worth is reported as negative ₹109.06 Crores. The audit opinion was qualified, and this qualification is noted as repetitive since FY 2011-12.

Electrotherm (India) Ltd announced the appointment of Mr. Rajesh Bhalchandra Patel as an Additional Director (Non-Executive Non-Independent) and Mr. Davesh Khandelwal as an Additional Director and Whole Time Director. Mr. Patel's appointment is effective August 26, 2026, subject to shareholder approval. Mr. Khandelwal's appointment as Additional Director is until the next AGM, and as Whole Time Director for three years from August 26, 2026, to August 25, 2029, also subject to shareholder approval. The board meeting where these appointments were approved took place on August 26, 2026.

Electrotherm (India) Ltd announced the appointment of Mr. Davesh Khandelwal as an Additional Director and Whole Time Director, effective August 26, 2026. His tenure as Whole Time Director is for three years, concluding on August 25, 2029, subject to shareholder approval. Mr. Khandelwal brings over two decades of experience in sectors including power, steel, marketing, and international trade, having previously held significant roles at Hindustan Unilever and Shreeyam Power and Steel Industries Limited. The board also approved the appointment of Mr. Rajesh Bhalchandra Patel as an Additional Director (Non-Executive Non-Independent).

Electrotherm (India) Ltd announced the appointment of Mr. Davesh Khandelwal as an Additional Director and Whole Time Director for a three-year term, subject to shareholder approval. The board also approved the appointment of Mr. Rajesh Bhalchandra Patel as an Additional Director (Non-Executive Non-Independent). Mr. Khandelwal brings over two decades of experience in power, steel, marketing, and international trade, having previously held a Whole Time Director/Managing Director role at Shreeyam Power and Steel Industries Limited. The board meeting took place on August 26, 2026.